Critical Issues in Environmental Taxation series
Edited by Larry Kreiser, Ana Yábar Sterling, Pedro Herrera, Janet E. Milne and Hope Ashiabor
Chapter 12: Public-private partnerships as incentive to foster sustainable technologies
Sustainable technologies can be supported by a respective environmental taxation or by governmental subsidies. Additional initiatives are also possible, in particular the promotion of joint public–private undertakings helping to foster sustainable development. Particularly in the aftermath of the financial crisis, the possibilities of investing in sustainable technologies through public means are limited; furthermore, in many countries, massive direct public investments in commercial companies are restricted, but the regulations do allow support of investments in renewable technologies under the tendering and procurement standards that maintain an international level playing field. Indeed, several financial instruments can reduce the risks of investments in sustainable technologies. Sustainable development meeting the needs of the present should not compromise future generations; therefore, individuals, businesses, and countries have to pay particular attention to environmental factors and the orientation of technological developments must lead to innovations producing ‘social goods’, such as increased product life or improved air quality, to be achieved by ‘low-energy-recyclable’ materials (WCED 1987, paras 65 et seq.). Obviously, new environmentally appropriate technologies are related to aspects of risk management; therefore, the potential impacts of new technologies need to be properly assessed in order to avoid an over stretching of resources.
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